Page 66 - Clean India Journal - Sept 2023 Digital Edition

Making a Point

India’s Bioeconomy

A blueprint for sustainable, cleaner growth

Within the dynamic nature of India’s economic framework, the

bioeconomy is swiftly rising as a pivotal player. The country’s
daily waste production, an alarming 160,000 tonnes, underscores
the pressing nature of its waste management challenge. If this

trend persists unchecked, by 2050, India could face a daunting
436 million tonnes of municipal solid waste.

This looming issue requires urgent resolution. As India teeters

on the brink of significant expansion, Shaik Ismail, Special
Correspondent, Clean India Journal delves deep into the nuances
of bioeconomy, exploring its potential for a greener India.

Understanding other valuable products. By doing Global context
bioeconomy so, the bioeconomy reduces The challenges India grapples
our carbon footprint, conserves
Bioeconomy refers to the biodiversity and significantly with, from swift urbanisation
production and utilisation of diminishes waste-related to escalating waste production,
biological resources, processes and environmental issues. mirror those of many developing
principles to sustainably provide nations. By spearheading
goods and services across various India’s bioeconomy innovative solutions in the
sectors. It encompasses a wide bioeconomy, India stands as
range of activities, from agriculture Currently valued at a staggering a model to the synergy of
and forestry to pharmaceuticals $100 billion, it is poised to innovation, technology and policy
and energy production, all rooted reach an ambitious $500 billion in addressing these universal
in the power of biology. by 2047. This projection is not challenges.
Integral to the bioeconomy is the just a testament to the country’s
economic prowess but also a
concept of waste management. By reflection of its commitment Socio-economic impact
transitioning from a fossil-fuel- to sustainable growth and The rise of the bioeconomy
based economy to a biological- environmental stewardship. promises to create numerous job
based one, the bioeconomy opportunities, from research and
emphasises the importance of development to manufacturing
leveraging renewable biological Catalysts of growth and distribution. This sector
resources, including organic waste, Several factors are propelling has the potential to uplift
to meet our societal, material, and India’s biotech industry to new many from unemployment and
energy needs. heights. Government support underemployment, especially
This shift not only promises has been unwavering, with in rural areas where agricultural
economic growth but also offers policies that foster innovation waste can be transformed into bio-
innovative solutions to waste and entrepreneurship. The startup products.
management challenges. Organic ecosystem, vibrant and dynamic, Particularly in rural regions,
waste, which often ends up in is playing a pivotal role. Every day where over 60% of India’s
landfills, can be repurposed within in 2021, three new biotech startups population resides, the
the bioeconomy framework to were established, signalling a bioeconomy presents a unique
produce biofuels, fertilisers and bright future for the sector. opportunity. Agricultural waste,

SEPTEMBER 2023•Clean India Journal
66 www.cleanindiajournal.com